Ohio's minimum wage is set to increase on Jan. 1, 2025 from $10.45 to $10.70 per hour for non-tipped employees, according to the Ohio Department of Commerce. Tipped employees will be starting at $5.35 per hour, up from the 2024 rate of $5.25. These rates apply to employees at businesses with annual gross receipts higher than $394,000 per year.

Medicare enrollees will now pay a maximum of $2,000 on out-of-pocket prescription drug costs annually as part of another provision of the Inflation Reduction Act. The limit applies to prescription drugs bought at pharmacies and through mail orders, which are covered through Medicare Part D.